PALM BEACH, Florida, March 14, 2017 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The opportunities in cannabis extracts continue to develop as leaders in the sector explore expansion via new products and services as well as mergers and acquisitions. As leaders in the cannabis industry continue to expand product lines and focus efforts on product development, revenues follow along the rising trend despite the recent federal ambiguity regarding future decisions. Companies forging ahead in the industry include: Vinergy Resources Ltd. (OTC: VNNYF) (CSE: VIN.CN), Canopy Growth Corporation (OTC: TWMJF) (TSX: WEED.TO), Emblem Corp. (TSX-V: EMC), Terra Tech Corp. (OTC: TRTC) and MassRoots, Inc. (OTC: MSRT).
Vinergy Resources Ltd. (OTCQB:VNNYF) (CSE:VIN) in conjunction with its proposed acquisition of MJ Biopharma (announced December 14, 2016) is pleased to announce it has signed a Memorandum of Understanding (MOU) with Namaste Technologies Inc. ("Namaste") to commercialize proprietary Cannabidiol (CBD) extract formulations through Namaste's retail websites in the United States. In the first phase of the collaboration, through channels in California, Colorado and potentially other States, the Company will distribute proprietary formulations to Namaste's over 300,0000 unique visitors per month. Read this and more news for Vinergy Resources at:http://marketnewsupdates.com/news/vnnyf.html.
"We are excited and committed to working collaboratively with Namaste to bring to market our unique formulations. Namaste is an ideal partner based on their industry leading online presence and established customer base," said Mr. Kent Deuters, CEO of MJ Biopharma. "We are very pleased to work with Vinergy to further expand our product line. This relationship represents continued monetization of Namaste's database and we view broadening our strategic alliances to the benefit of our customers and shareholders," said Mr. Sean Dollinger, CEO of Namaste.
Canopy Growth Corporation (OTC: TWMJF)(TSX: WEED.TO) also announced last month that it entered into a memorandum of understanding ("MOU") with Namaste Technologies Inc., an emerging leader in the vaporizer and accessories space with 26 e-commerce retail stores in 20 countries. This MOU represents an opportunity for the companies to work together to educate customers on the legal, regulated cannabis framework in Canada, encourage the use of vaporizing technology over smoking, and introduce cross-brand exposure among their respective clients.
Emblem Corp. (TSX-V: EMC) closed up over 9% on Monday at $2.83 trading over 1.3 million shares by the market close. Emblem is licensed under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR") to cultivate and sell medical marijuana. Emblem carries out its principal activities producing marijuana from its facilities in Paris, Ontario pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
Terra Tech Corp. (OTCQX: TRTC) closed even on Monday at $0.272 trading over 2.5 million shares by the market close. Terra Tech Corp, a vertically integrated cannabis-focused agriculture company, last week announced the construction of a new cultivation facility in Oakland, California. Terra Tech has executed a lease for 13,000 square feet of industrial space on over 30,000 square feet of land in Oakland's industrial corridor.
MassRoots, Inc. (OTCQB: MSRT) closed up on Monday at $0.81 trading just over 440,000 shares by the market close. MassRoots is one of the largest technology platforms for the regulated cannabis industry. The Company's mobile apps enable consumers to make medical cannabis purchasing decisions through community-driven reviews. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association.
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